Effective Tax Return & Cash Flow Analysis (Currently Unavailable)

Author: David Osburn

CPE Credit:  2 hours for CPAs

Attend this course and gain a better understanding of how tax return analysis can be used to determine an individual and company’s cash flow position. With this knowledge, the CPA will be able to help their clients improve their cash flow position, obtain financing, and/or better manage their on-going business operation.

Publication Date: June 2016

Designed For
CPAs, CFO/controllers, financial managers, auditors, financial analysts and practitioners who provide accounting, tax or consulting services to businesses.

Topics Covered

  • Personal tax return analysis
  • True cash flow derived from the 1040 federal tax return (based on the various schedules and K-1 forms)
  • Preparing a "personal cash flow" from information gleaned from the 1040
  • Various business tax returns
  • Partnership (LLC), S corporation, and C corporation structure
  • Analyzing business federal tax returns and prepare "cash flows" for these entities
  • Creating a "global" or combined cash flow analysis (personal & business)
  • Assessing the company's "risk factors" using the business tax returns
  • Reviewing real estate tax issues
  • Retirement plans and HSAs
  • Estate planning issues
  • Year-end tax strategies
  • Updates to the current tax code

Learning Objectives

  • Recognize an individual and company's cash flow position using tax return analysis to improve cash flow, obtain financing, and/or improve business operation
  • Calculate personal cash flow using 1040 tax return (including schedules and K-1s)
  • Differentiate business tax returns including partnership (LLC), S corporations, C corporations and prepare cash flows from these entities; calculate global or combined "personal" and "business" cash flow analysis
  • Identify risk factors using the returns; review real estate issues, retirement plans and HSAs, estate planning issues, and year-end tax strategies
  • Desribe tax code updates and ways to use the tax returns to market the CPA practice
  • Differentiate statements concerning the Section 179 deduction
  • Recognize when employer provided benefits are a consideration in tax planning
  • Identify how to make a cash flow analysis and how it is treated as tax-exempt interest
  • Recognize basic cash flow components of gross income on the 1040
  • Differentiate a business or individual's debt coverage ratio (DCR)
  • Recognize the difference between analysis for traditional cash flow and global cash flow
  • Identify the tax rules concerning the depreciation of assets
  • Identify issues to be considered regarding capital gains and losses

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None

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